GOVERNMENT UNVEILS ACTION PLAN FOR THE ECONOMY

Saskatchewan has a new economic plan that builds on the province's current momentum and strength of its key economic sectors.

Premier Lorne Calvert and Industry and Resources Minister Eric Cline today released The Saskatchewan Action Plan for the Economy: A New Century of Opportunity. The plan is a response to what was heard at the Centennial Summit in January and contains 81 actions, both current and planned, to encourage economic growth.

"This plan reflects the priorities voiced by participants at the Summit," Calvert said. "Saskatchewan has entered its second century as one of only three 'have' provinces in Canada. Summit delegates want to build on that strength and take it to the next level: focusing on more secondary processing and manufacturing, better paying jobs and career opportunities, and wider access to those opportunities for everyone."

The action plan has four main thrusts:

• Expanding and building on Saskatchewan's natural strengths;

• Extending the province's successes in research and innovation;

• Enhancing and promoting Saskatchewan's competitive advantages; and

• Broadening the provincial economy, workforce and jobs.

Cline noted that key actions in the plan build on Saskatchewan's energy strengths by giving continued priority to development of new enhanced oil recovery techniques, providing a competitive tax regime, expanding alternate energy sources and exploring new sources such as hydrogen. "We will also be developing a new energy policy that reflects environmental considerations while taking full advantage of the economic opportunity that a broader energy base offers," he said.

The plan emphasizes proven strengths in resources such as value-added agriculture, potash, forestry and uranium, along with potential new resources such as diamonds and rare earth minerals. The plan acknowledges the strides Saskatchewan has made in research and development, and advocates further growth by expanding the Canadian Light Source synchrotron, establishing innovation "incubation" centres and increasing promotion of research facilities such as the Greenhouse Gas Technology Centre and Communities of Tomorrow.

"Production of raw resources powered Saskatchewan's economy through much of its first century," Cline said. "The focus now must be on taking our economy to the next stage, through more aggressive secondary manufacturing and leading-edge research and development."

The plan calls for improving Saskatchewan's competitive position through targeted tax relief, streamlining and simplifying regulations, expanding training opportunities and further promoting the province's competitive advantages to trading partners around the world. Other actions to broaden the province's economic base include establishing an entrepreneurial venture capital fund, encouraging the tourism and film industries and using existing programs to more fully engage youth and First Nations and Métis people in shaping Saskatchewan's next century.

"Saskatchewan has a history of overcoming challenges and seizing opportunities," Calvert said. "The plan we unveil today reflects our belief that there can be no social progress without economic progress. We are moving to ensure progress on both fronts by enhancing what's been shown to work well and opening new doors of opportunity."

Progress on the plan and its specific actions will be monitored by Industry and Resources and through reports back to the Legislative Assembly.

Copies of The Saskatchewan Action Plan for the Economy: A New Century of Opportunity are available from Industry and Resources. The plan is also accessible online at www.ir.gov.sk.ca/actionplan.

-30-

For More Information, Contact:

Bob Ellis Industry and Resources Regina Phone: (306) 787-1691 Cell: (306) 539-6948